Reliance gains 6% in four sessions as brokerages flag Retail, Jio as valuation re-rating triggers
Reliance Industries extended gains to a fourth straight session, up 2% to ₹1,333.35. Equirus upgraded to 'Long' with a ₹1,586 target, citing Retail's projected 13% CAGR over FY26-28E and Telecom together driving over 65% of enterprise value. Morgan Stanley reiterated Overweight at ₹1,803, flagging forward P/E of ~19x versus 21x average.
Reliance Industries shares rose 2% for a fourth session. Equirus upgraded to 'Long' with ₹1,586 target, citing Retail (13% CAGR) and Telecom driving >65% of EV. Morgan Stanley maintains Overweight at ₹1,803, flagging attractive valuations.